SWVL

MKT CAP:$18M

Swvl Holdings Corp.

Market Cap

$18M

Technology·Software - Application· AE·NASDAQ

Technology·Software App·NASDAQ

Stock Price

$1.72-$0.15 (-8.05%)

Apr 21, 2026

Company Details

Swvl Holdings Corp. provides mass transit ridesharing services. It offers B2C Swvl Retail, which provides riders with a network of minibuses and other vehicles running on fixed or semi-fixed routes within cities; Swvl Travel that allows rid...

CEO

Mostafa Kandil

IPO Date

Mar 15, 2021

Website

www.swvl.com

Key Metrics TTM

Revenue

$20M

+3.9% YoY

Net Income

-$7M

EPS (Diluted)

-$1.00

Free Cash Flow

-$6M

Revenue / Share

$2.39

Gross Margin

7.0%

Operating Margin

-29.2%

Net Margin

-34.2%

FCF Margin

-31.4%

P/S

0.9x

P/E

—

Earnings Reports

FY 2024

Jun 30, 2024

$8M+37.5%EPS -$0.66

Q2 2024

Jun 30, 2024

$4MEPS -$0.33

Q1 2024

Apr 30, 2024

$4MEPS -$0.33

FY 2023

Apr 30, 2024

$6MEPS $0.03

Q4 2023

Apr 30, 2024

$6MEPS $0.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 20	$4M	-$4M	-$9M
Q2 20	$4M	-$4M	-$9M
Q3 20	$5M	-$765.4K	-$8M
Q4 20	$5M	-$765.4K	-$8M
Q1 21	$6M	-$1M	-$410.4K
Q2 21	$6M	-$1M	-$1M
Q4 23	$6M	$1M	-$664.7K
Q1 24	$4M	$872.1K	-$2M
Q2 24	$4M	$872.1K	-$2M

Valuation

Quarter	P/S	P/E
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	68.0x	—
Q1 21	59.3x	—
Q2 21	52.3x	—
Q4 23	1.2x	—
Q1 24	4.6x	—
Q2 24	2.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	-$9M	-$9M
Q2 20	-$9M	-$9M
Q3 20	-$6M	-$6M
Q4 20	-$6M	-$6M
Q1 21	-$1M	-$1M
Q2 21	-$183.6K	-$210.2K
Q4 23	-$6M	-$6M
Q1 24	-$256.4K	-$256.4K
Q2 24	-$256.4K	-$256.4K

Capital Expenditures

Quarter	CapEx
Q1 20	$83.9K
Q2 20	$83.9K
Q3 20	$22.5K
Q4 20	$22.5K
Q1 21	$26.6K
Q2 21	$26.6K
Q4 23	$8.6K
Q1 24	$0
Q2 24	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+55.9%	-46.5%
Q2 21	+55.9%	-40.2%
Q4 23	+30.0%	-47.8%
Q1 24	-10.6%	-51.5%
Q2 24	-37.5%	-11.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	$305.9K	7.4%
Q2 20	$305.9K	7.4%
Q3 20	$1M	24.6%
Q4 20	$1M	24.6%
Q1 21	$11M	172.6%
Q2 21	$11M	172.6%
Q4 23	$2M	27.9%
Q1 24	$0	0.0%
Q2 24	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 20	$258.3K	$3M	$1M
Q2 20	$258.3K	$3M	$1M
Q3 20	$516.5K	$6M	$1M
Q4 20	$516.5K	$6M	$1M
Q1 21	$946.0K	$17M	$2M
Q2 21	$946.0K	$17M	$2M
Q4 23	$559.3K	$3M	—
Q1 24	$124.4K	$3M	$6.6K
Q2 24	$161.2K	$3M	$6.6K

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 20	—	-209.2%	—
Q2 20	—	-209.2%	—
Q3 20	—	-176.5%	—
Q4 20	—	-176.5%	—
Q1 21	55.9%	-170.4%	-114.5
Q2 21	55.9%	-27.0%	28.9
Q4 23	30.0%	-42.1%	-12.1
Q1 24	-10.6%	-48.6%	-59.3
Q2 24	-37.5%	-48.6%	-86.2

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 21	$1M	$0	$1M
Q4 21	$10M	$10M	$20M
Q1 22	$19M	$5M	$24M
Q2 22	$19M	$5M	$24M
Q3 22	$19M	$0	$19M
Q4 22	$2M	$0	$2M
Q1 23	$376.8K	$0	$376.8K
Q2 23	$376.8K	$0	$376.8K
Q3 23	$3M	$0	$3M
Q4 23	$3M	$0	$3M
Q1 24	$1M	$0	$1M
Q2 24	$1M	$0	$1M
Q3 24	$5M	$0	$5M
Q4 24	$5M	$0	$5M
Q1 25	$5M	$0	$5M
Q2 25	$5M	$0	$5M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 20	5M	—	—
Q2 20	5M	0.0%	—
Q3 20	7M	+40.9%	—
Q4 20	7M	0.0%	—
Q1 21	5M	-29.0%	0.0%
Q2 21	5M	0.0%	0.0%
Q4 23	10M	+104.0%	+44.8%
Q1 24	9M	-11.8%	+27.7%
Q2 24	9M	0.0%	+79.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	—	—
Q1 21	—	—
Q2 21	—	—
Q4 23	$587	10K
Q1 24	$403	10K
Q2 24	$403	10K

Revenue / Employee